Direct Mail Lead - Absentee Owner

[Vuk Dulanovic]

Hey all, 

I began a direct marketing campaign to Absentee Owners with at least 70% equity and owned for at least 5 years in Brandon, FL. 

Today I got a call and had the following conversation with a seller that sounded pretty desperate to sell, judging form his tone, and his speech. 

Cool guy, needs to sell his house because he got injured at work and is trying to collect disability. He lives in another house that he owns. However, he put a lot of money into this house that he's selling and wants to get at least that much out before he sells. He owns free and clear, just last year performed major rehab and updated the house.

ARV is roughly 120k.

He wanted 150k to pay what he has into the property.

I offered him 80k, then we talked back and forth, he told me why he needs to sell, and I explained that I cant buy it at 150k, regardless of his situation. Then he offered 130k. Still couldnt work out a deal. So hes going to bird dog for us and make referral money instead. Says he can get me a few more leads in that same neighborhood.

So what would you have done differently here?

[Justin Silverio]

I generally ask: 1) "What do you think the house is worth?" then 2) "What are you looking to sell the property for?"

If 2 > 1, I will thank them for calling and tell them to call me back if circumstances change.